Date
21 October 2017

Home-price data doesn’t reflect overall picture, paper says

Home-price data from 70 major Chinese cities that is published every month has been clearly in deviation from the actual situation in the overall housing market, as oversupply of homes in third- and four-tier cities suggests de-inventory is gaining traction, the China Securities Journal reported Monday. While new-home prices in major cities only dropped in 11 of the past 48 months based on data from the National Bureau of Statistics, many of the more than 600 cities in the country actually are suffering from oversupply, the report said. It shows up defects in the current statistical methods, making it imperative to speed up the establishment of a nationwide real estate registration system and personal housing information system to bring out more precise housing data, the report said.

– Contact HKEJ [email protected]

TL/AC/RC

 

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